Swiss National Bank boosted its stake in shares of Shake Shack Inc (NYSE:SHAK) by 6.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 35,400 shares of the company’s stock after purchasing an additional 2,200 shares during the period. Swiss National Bank owned approximately 0.10% of Shake Shack worth $1,529,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Crossmark Global Holdings Inc. acquired a new stake in Shake Shack during the 4th quarter worth about $236,000. Cipher Capital LP acquired a new stake in shares of Shake Shack during the 3rd quarter valued at about $211,000. Municipal Employees Retirement System of Michigan grew its position in shares of Shake Shack by 58.9% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 6,960 shares of the company’s stock valued at $231,000 after acquiring an additional 2,580 shares during the period. Parametric Portfolio Associates LLC acquired a new stake in shares of Shake Shack during the 2nd quarter valued at about $247,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Shake Shack during the 4th quarter valued at about $309,000. 82.11% of the stock is currently owned by institutional investors.
Shake Shack Inc (SHAK) opened at $42.48 on Tuesday. The firm has a market cap of $1,560.00, a PE ratio of 90.38, a P/E/G ratio of 4.12 and a beta of 1.41. Shake Shack Inc has a 12 month low of $30.12 and a 12 month high of $47.39.
In related news, Director Daniel Harris Meyer sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $45.93, for a total value of $4,593,000.00. Following the transaction, the director now directly owns 642 shares of the company’s stock, valued at approximately $29,487.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Equity Group L.P. Select sold 95,564 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $45.43, for a total transaction of $4,341,472.52. The disclosure for this sale can be found here. Insiders sold a total of 726,840 shares of company stock worth $31,287,298 over the last ninety days. 34.91% of the stock is currently owned by corporate insiders.
A number of research firms have recently commented on SHAK. Barclays dropped their target price on Shake Shack from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Friday, February 16th. SunTrust Banks set a $54.00 target price on Shake Shack and gave the company a “buy” rating in a research report on Friday, February 16th. Wedbush restated a “hold” rating and set a $38.00 target price on shares of Shake Shack in a research report on Friday, February 16th. Jefferies Group cut Shake Shack from a “hold” rating to an “underperform” rating and set a $36.00 target price on the stock. in a research report on Saturday, December 30th. Finally, Cowen raised their target price on Shake Shack from $36.00 to $42.00 and gave the company a “market perform” rating in a research report on Tuesday, December 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.73.
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About Shake Shack
Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.
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